21 May 2021 12:33
21 May 2021
PCF Group plc
("PCF", the "Bank" or the "Group")
Resignation of Chief Executive Officer
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018
PCF Group plc announces that Scott Maybury has informed the Board of his intention to step down from his position as Chief Executive Officer and resign as a Director of the Group with immediate effect.
Chief Operating Officer Garry Stran will assume the role of Chief Executive Officer on an interim basis, and subject to regulatory approval, until such time as a permament Chief Executive Officer is appointed. The Group will provide an update on that process as and when appropriate.
Tim Franklin, Chairman of PCF, said: "The Board and I would like to thank Scott for his significant contribution to PCF throughout his 26 years with the Group and wish him every success in the future."
end
For further information, please visit https://pcf.bank/ or contact:
PCF Group Garry Stran, Interim Chief Executive Officer Caroline Richardson, Chief Financial Officer
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| Tel: +44 (0) 20 7222 2426 |
Tavistock Communications Simon Hudson / Tim Pearson / Jos Simson
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| Tel: +44 (0) 20 7920 3150 |
Peel Hunt (Nominated Adviser and Broker) Andrew Buchanan / James Britton / Rishi Shah / Duncan Littlejohns |
| Tel: +44 (0) 20 7418 8900 |
Shore Capital (Joint Broker) Henry Willcocks / Guy Wiehahn |
| Tel: +44 (0) 20 7408 4080 |
About PCF Group plc (www.pcf.bank)
Established in 1994, PCF Group plc is the AIM-quoted parent of the specialist bank, PCF Bank Limited. Since commencing operations as a bank in 2017, the Group has increased its lending portfolio from £140 million to over £430 million. The Group continues to focus on portfolio quality and lending to the prime segments of its existing markets. The Group will continue to identify opportunities to diversify its lending products and asset classes by setting up new organic operations or through acquistion.
PCF Bank currently offers retail savings products for individuals and then deploys those funds through its four lending divisions:
• Business asset finance which provides finance for vehicles, plant and equipment to SMEs;
• Consumer motor finance which provides finance for motor vehicles to consumers;
• Azule which provides finance to the broadcast and media industry; and
• Property bridging finance which provides loans to companies and sole traders investing in residential and commercial property.
The Group has a track record of profitability and sustainability through an efficient and scalable business model. Utilising its technologically advanced platform, PCF Bank provides both depositors and borrowers with a high level of service and a straightforward, simple range of products tailored to suit their needs.
Recently recorded video profiles of PCF's Property Bridging Finance, Azule Broadcast Equipment Finance, and Savings divisions are available at the Company's profile page on the London Stock Exchange website: https://profile.lsegissuerservices.com/PCFGroup/overview.